This is further to its announcement on October 4, 2022, on
the above subject.
A statement issued by Access Holdings’ Company Secretary,
Sunday Ekwochi, said the Central Bank of Nigeria had previously granted its
approval to the transaction and that the bank expected to receive the approval
of the Angolan Competition Authority in the coming days, which would complete
the requirements for regulatory approvals for the transaction, enabling the
bank to initiate completion of other customary conditions precedents to close
the transaction.
The statement said the bank had also signed agreements with
minority shareholders of Finibanco Angola S.A. who had expressed an interest to
sell their shares concurrently and targeted to attain a total shareholding
above 80% in Finibanco Angola S.A. at the completion of the Transaction.
Commenting on the recent development, Dr. Herbert Wigwe,
Group Chief Executive Officer, Access Holdings said: “We are pleased to be
well-positioned to join the select league of banks providing high value
financial services to high-growth businesses and the rising consumer sector in
Angola.
“The Bank brings a lot of value-add and expertise that will
act a positive catalyst to foster greater innovation and promote the deepening
of the financial sector in Angola, while complementing our strategic growth
objectives in the broader SADC region,” he said.
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